Markets & Finance

Lazard Freres Ups Hotel Reservations to 'Buy'

Lazard Freres upgraded Hotel Reservations (ROOM) to buy from hold.

Analyst James Winchester upgraded on positive guidance. He says the best possible scenario for the company that provides discount hotel accommodations is the recession, thus the company is holding its own. While in the midst of a tough lodging environment, Winchester says the hotel discount business is the only piece of the lodging pie showing an upward trend. He sees EPS growth accelerating over the next couple of years and sees $1.85 EPS for 2003. Winchester raised his $45 target to $64.

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